Monday, 07 Mar 2011
Reuters quoted an energy expert said Colombian coal producers should look to re balance exports to Asia since 50GW to 100GW of European coal power plants are seen shutting over the next 10 years.
Europe remains the main destination for high quality thermal coal from Colombia, the world's No 5 coal exporter, although the Latin American country saw a massive increase in exports to Asia last year.
Mr Malcolm Keay a senior research fellow at the Oxford Institute for Energy Studies said "The short term trend over the last few years has been relatively favorable for Colombia. The situation will persist for a while but the bar is very short, maybe over the next three years."
He said that "I don't think the good times will last the dominant, future trend is likely to be environmental regulation, the impact on investment on new power generation and the impact of the retirement of old, coal fire generation."
Mr Keay said he expects 50GW to 100GW of coal fired plants to go offline in the next 10 years due to environmental regulations. At least 26 coal fire schemes have been suspended or canceled in the last three years.
Mr Keay a former head of the industry group World Coal Association said the main issues for new coal fired plants in Europe are low electricity demand, environmental uncertainty and growth of renewables and nuclear energy.
Europe remains the main destination for high quality thermal coal from Colombia, the world's No 5 coal exporter, although the Latin American country saw a massive increase in exports to Asia last year.
Mr Malcolm Keay a senior research fellow at the Oxford Institute for Energy Studies said "The short term trend over the last few years has been relatively favorable for Colombia. The situation will persist for a while but the bar is very short, maybe over the next three years."
He said that "I don't think the good times will last the dominant, future trend is likely to be environmental regulation, the impact on investment on new power generation and the impact of the retirement of old, coal fire generation."
Mr Keay said he expects 50GW to 100GW of coal fired plants to go offline in the next 10 years due to environmental regulations. At least 26 coal fire schemes have been suspended or canceled in the last three years.
Mr Keay a former head of the industry group World Coal Association said the main issues for new coal fired plants in Europe are low electricity demand, environmental uncertainty and growth of renewables and nuclear energy.
He said that "Many plants will close starting from 2015 and running until about 2023. At the middle of the decade, a lot of factors are going to be working against coal." (sourced:Reuters)
Tags : environmental regulation, World Coal Association, coal power plant, Asia
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